The rating agency Moody’s affirmed Coop Pank’s Credit rating. Bank deposit rating remained on the level of Baa2 with stable outlook.
03 Mayo 2024 - 12:15AM
The rating agency Moody’s affirmed Coop Pank’s Credit rating. Bank
deposit rating remained on the level of Baa2 with stable outlook.
Moody's Ratings affirmed the credit rating of Coop Pank AS.
Investment grade credit rating with a stable outlook was affirmed
at the same level as year ago.
According to Paavo Truu, CFO of Coop Pank, the confirmation of
the credit rating at the current level confirms that the bank is
trustworthy with solid capital base and high quality of the loan
portfolio even in difficult times and has shown good profitability.
“The confirmation of the rating and stable outlook gives private
individuals and businesses additional confidence to become a
customer of Coop Pank and keep their money in a domestic financial
institution," said Truu.
Ratings affirmed by Moody's Ratings for Coop Pank AS:
- Foreign- and local currency long- and short-term bank deposit
rating Baa2/Prime-2
- Long- and short-term counterparty risk assessment of
Baa1(cr)/Prime-2(cr)
- Long- and short-term counterparty risk rating of
Baa1/Prime-2
- Baseline credit assessment (BCA) ba1
- Adjusted baseline credit assessment ba1
The long-term deposit ratings carry a stable outlook.
The announcement on the report prepared by Moody’s can be found
at https://www.moodys.com/
Coop Pank, based on Estonian capital, is one of the five
universal banks operating in Estonia. The number of clients using
Coop Pank for their daily banking reached 189,000. Coop Pank aims
to put the synergy generated by the interaction of retail business
and banking to good use and to bring everyday banking services
closer to people’s homes. The strategic shareholder of the bank is
the domestic retail chain Coop Eesti, comprising of 320 stores.
Additional information:Paavo TruuCFO Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee